[Download] "Michigan Savings And Loan League V. Francis" by United States Court Of Appeals For The Sixth Circuit * Book PDF Kindle ePub Free
eBook details
- Title: Michigan Savings And Loan League V. Francis
- Author : United States Court Of Appeals For The Sixth Circuit
- Release Date : January 08, 1982
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 70 KB
Description
The plaintiffs, a group of federally chartered savings and loan associations, and their trade association, the Michigan Savings and Loan League ("Plaintiffs") filed this action in the United States District Court for the Eastern District of Michigan against Richard Francis, Commissioner of the Michigan Financial Institutions Bureau ("Commissioner").*fn1 Pursuant to Fed. R. Civ. P. 13, plaintiffs joined the Federal Home Loan Bank Board ("FHLBB" or "Bank Board") as defendant. Plaintiffs alleged that the Home Owners Loan Act of 1933 ("HOLA"), 12 USC § 1461 et seq. preempts the Michigan Mortgages Lending Act ("Act"), Mich. Comp. Laws Ann. § 445.1601 et seq., Michigan's antiredlining statute. Plaintiffs sought a declaratory judgment that they are exempt from the Act, and sought to enjoin the Commissioner from regulating its association members under the Act. Plaintiffs alleged jurisdiction pursuant to 28 USC §§ 1331 and 1337.
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